Over the summer P&F chairman John Guille was still hopeful that the process would be completed this year.
But in a revised timetable the committee is now simply saying that it is hopeful that the process will be completed ‘in the first half of 2027’.
During its meeting last week Chief Pleas was told that the process itself remains ongoing, with a Lt-Seneschal having been appointed to deal with the valuation methodology of the currently privately-owned Sark Electricity Ltd.
P&F acknowledged that the delays and uncertainty were ‘distressing for residents and businesses and created a continuing risk given the condition of the electricity network’, and said it was doing everything within its remit to move the process forward as quickly as possible, while ensuring that each step was properly and lawfully completed.
The next step will be for an official hearing to be held to give direction on how Sark Electricity’s assets should be valued. Only then can the valuation itself take place.
Chief Pleas last week agreed to establish a new company to carry out the initial oversight of the utility before moving it to a model of community ownership at a later date.
Conseiller Guille has previously stated that once in public ownership Sark Electricity will require a multi-million pound investment programme, which will include moving towards renewable methods of power generation.
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